5 Money Saving Tips For Building Your Next Home

Building a new home can be a life changing experience. Depending on how well-prepared you are and how good you are at running projects, it can either be a nightmare or quite fun. But dull and boring it will not be, because it will require your attention and input.

As a home builder, one thing that will be very important to you is how to cut costs. Building a home can be very costly and there will be so many unforeseen and hidden costs that can cause you to easily exceed your budget if you are not careful. However, with careful planning and prudence, you can find ways to cut costs. Here are 5 money saving tips for building your dream home:

 

 

1. Buy land that is considered undesirable: The first thing you will need when building a house is land. The price of land differs depending on location. It can be exorbitantly high in prime commercial and residential areas. But you can buy land below market price in areas that may be less desirable to some people. Don’t forget to negotiate to get a cheaper price.

 

2. Choose a stock house plan: If you have always had a certain dream for your new house, your first impulse may be to have a plan custom-drawn by an architect. That can be quite expensive, so consider using a stock house plan instead. Many brokers have a large collection of stock plans that either cost nothing or a fraction of a custom-drawn plan. You can customize these plans to suit your needs.

 

3. Minimize expensive features: When building a house, a lot of your budget will go into features that are nice to look at but may not be necessary. Things like ornately coffered ceilings, multiple-pitch rooflines, and angled or oval structures certainly add beauty to your house, but they can be a drain on your money. If you want to save money, remove all the expensive features and stick to only those that are absolutely necessary. You can always add many of these money-draining features later on down the road. 

 

4. Hire only certified contractors: Certified contractors may be expensive, but think of the experience they have, as well as the contacts. Chances are they know suppliers, and subcontractors. They know where to get the materials cheaply and how to get things done inexpensively. If you can build a good rapport with them, they can even give you money-saving ideas every step of the way, even if it means lowering their own profit margin.

5. Shop around: A lot of home builders leave everything in the hands of the contractor, including the buying part. People have the natural tendency to be lavish with other people’s money. If you do your own shopping, at least you’ll be aware of the prices and can suggest what you want to the builder. 
 
Have you ever built a house?

17 comments

  1. We have never built before but I have always wanted to. It would be great to pick out everything myself from top to bottom! Great tips!

  2. AverageJoe says:

    I've always been fascinated by home building, but have had this love affair with older homes my whole life. Cheryl's dad built homes and always groaned when we bought another old house. He called our houses "money pits." I think he's right….

  3. Handy tips for saving money in building home. I've bookmarked your site and will be follow every tips for making my home. Thanks dude.

  4. some handy tips here, I never thought of the stock plan option – nice one

  5. alfred says:

    thank you for these tips. I will make sure to take consideration all these tips when I am going to build a house.

  6. Smith says:

    Building a home needs a land at first. And it takes a lots time to make a strong home to live. People always want a own home but unfortunately they are busy in their work. In order to solve this issue there are so many agencies and also contractors are available in market to solve this issue. People now a day prefer to go for contractor while building a home. But you should go for the experience people who can guide you in a better way. This blog contains a details information about the contractors and to the tips to build an own home.

  7. Building a new home is not an easy task but with the assistance of the construction guys and best opinions of roofing materials companies it could be cost effective and can give a lots of happiness

  8. tom says:

    But you should go for the experience people who can guide you in a better way. edmonds real estates

  9. My business is now not confident the spot where you are becoming a person’s information and facts, nonetheless superior matter. We must commit a while mastering far more or finding out far more. Many thanks good information and facts I had been interested in these records in my objective.

  10. These tips are really helpful and i think it will help other just like me. Thanks for such a nice blog;

  11. bank reviews says:

    Building a house requires tolerance to find a perfect place to make home sweet home. Also need to save money since anyone determined to make a building or home. I appreciate above mentioned effective money saving tips. These are yet handy for building a home. Thanks.

  12. Excellent sharing!! Almost every person in the world have desire to build their own home someday and this type of post will quite inspired them to build home by saving money following such significant ways. Thanks.

  13. Angela says:

    We've been considering building for awhile, but the costs always intimidate us, so we never have. These are great tips though, so we'll definitely have to rethink our decision!

  14. albert says:

    The first thing you will need when building a house is land. The price of land differs depending on location. It can be exorbitantly high in prime commercial and residential areas. OPW By Design Double Glazing

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